Approximately $14 billion in revenue comes from optical networking globally today. The optical networking industry is expected to grow rapidly, with a CAGR of 8.4%, to reach a value of $24.8 billion by 2029.
| Optical Networking Market Size (2022) | US$ 14 Bn |
| Sales Forecast (2029) | US$ 24.8 Bn |
| Global Market Growth Rate (2022 to 2029) | 8.4% CAGR |
| Share of Top 5 Players | 50% |
The global optical networking market is anticipated to reach revenues of US$ 24 Bn by the end of 2029, with a strong CAGR between 2022 and 2029. According to a recent Future Market Insights (FMI) report, the introduction of fifth-generation (5G) wireless systems will be the main driver of adoption.
According to the report, Asia Pacific excluding Japan (APEJ) will continue to be a sizable market for optical network providers due to the region’s mobile network operators’ strong growth expectations for 5G technology. In order to provide front haul for Cloud-RANs (radio access networks) and backhaul for dense, fast networks, 5G will rely on fiber as an upgraded radio technology.
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Key Takeaways of Optical Networking Market Study
- North America holds a significant revenue share in global optical networking market through 2029.
- Network design service would remain sought-after in the global optical networking market.
- Optical fiber, as a preferred product, will continue to capture a significant market share throughout the forecast period.
- Demand for fiber channels is set to grow at an impressive CAGR through 2029. WDM (Wavelength-division multiplexing) is however projected to remain estimated to continue to hold significant market share in the global optical networking market during the forecast period.
Increasing Demand for ROADM-based Optical Network to Propel Sales
Network providers are moving to more automated, software-driven, high scalable connections that offers new cost savings, and efficient service agility.
There is a growing demand for ROADM-based optical foundation that depends on instrumented photonics, flexible, and Layer 0 software to control and scale the connection for maximum capacity at the lowest power, space, and cost per bit. Therefore, introduction of high-speed analogue circuit is expected to drive the growth of the global optical networking market.
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On the other hand, the use of software-defined networking (SDN) makes optical communication networks, which include both fiber optic and optical wireless systems, more agile, programmable, and capable of providing flexible service solutions. The market for optical networking is expected to rise as a result of these innovations. As a result, the production and supply of optical networking equipment are returning to normal.
For instance,
- SingleRAN Pro is designed by Huawei Technologies to broaden the Wireless First approach to cover more services and support operators in moving into new functional departments. SingleRAN Pro has new 5G capabilities such as a tenfold increase in network capacity, coverage, and improvement in user experience. The solution also included artificial intelligence (AI) to help networks run more smoothly.
Know More About What the Optical Networking Market Repost Covers
Future Market Insights offers an unbiased analysis of the global optical networking market, providing historical data for 2014-2021 and forecast statistics from 2022-2029. To understand opportunities in the optical networking market, the market is segmented on the basis of component type, technology, service, and end user across seven major regions.
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- Optical Fibers
- Optical Switches
- Optical Amplifiers
- Optical Splitters
- Optical Transceivers
- Optical Circulators
Optical Networking Market by Technology :
- SONET
- WDM
- Fiber Channels
Optical Networking Market by Service :
- Network Design
- Data Centre
- Network Maintenance and Support
Optical Networking Market by End User :
- Military & Defense
- BFSI
- IT & Telecom
- Government
- Others
Optical Networking Market by Region :
- North America Optical Networking Market
- Latin America Optical Networking Market
- Europe Optical Networking Market
- East Asia Optical Networking Market
- South Asia & Pacific Optical Networking Market
- Middle East & Africa (MEA) Optical Networking Market
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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